COMMODITY
MARKET OUTLOOK
Gold dropped amid a firmer dollar
as markets waited to see if U.S. President Donald Trump will face hurdles on
his economic agenda.
Silver settled flat as dollar steadied, amid a
mixed batch of U.S. economic data, ahead of a key House vote on a healthcare
bill to repeal and replace Obamacare.
Crude dropped because of investor
concerns that OPEC-led supply cuts were not yet reducing record U.S. crude
inventories.
Copper gained as supply concerns
that have underpinned copper have been exacerbated by floods in Peru, just
ahead of the start of the second quarter.
Zinc on MCX settled down despite
a spate of mine disruptions.
Nickel dropped as sign of comfort
in the Chinese nickel market is that inventories monitored by the Shanghai
Futures Spices Exchange are still at relatively high levels.
Natural gas prices dropped after
data showed that natural gas supplies in storage in the U.S. fell broadly in
line with market expectations.
COMMODITY MARKET
LEVELS:-
GOLD
P. POINT- 28833
S1 -28714 R1-28916
S2 -28635 R2-29031
SILVER
P. POINT-41321
S1 - 41145
R1-41477
S2 - 40989
R2-41653
COPPER
P. POINT-382.6
S1- 380 R1-385
S2- 377 R2-387
NATURAL GAS
P. POINT-197
S1 -195 R1-199
S2 -193 R2-201
CRUDE OIL
P. POINT-3153
S1 -3119
R1-3176
S2 -3096
R2-3220
No comments:
Post a Comment